(I-BusinessNews.Com, November 26, 2018 ) Fleet management software is increasingly being used by the machinery rental companies for vehicle and driver management. Fleet management software provides information related to repair and accident tracking, vehicle tracking, equipment wear-out and maintenance forecasting, vehicle inventory management, and driver management and licensing.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL MACHINERY RENTAL MARKET AT $420 BILLION IN 2017
Asia Pacific was the largest region in the global machinery rental market in 2017, accounting for two-fifth of the market share. This can be attributed to rapid urbanization, commercialization of industry, burgeoning population, robust fiscal growth, and increasing government initiatives.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, partnership among global rental players is rapidly increasing. Partnerships in the form of joint ventures enable companies to optimize their cost for large-scale projects as well as to enhance their product portfolio. In many cases, companies opt for joint ventures as part of their growth strategy to gain majority market share.
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United Rentals, Inc. was the largest company in the global machinery rental market, with revenues of $5.7 billion for the year 2017. United Rentals’ primary growth strategy is acquisition. It offers general, aerial, and specialty rentals to a customer base that includes construction and industrial companies; utilities; municipalities; and homeowners. In addition to rentals, the company offers new and used equipment sales, servicing, and safety training.
The machinery rental market is segmented into Heavy Construction Machinery Rental; Off-Highway Transportation Equipment Rental; Mining, Oil And Gas, And Forestry Machinery And Equipment Rental; Office Machinery And Equipment Rental; Other Commercial And Industrial Machinery And Equipment Rental.
Machinery Rental Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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